NAB considers three-factor authentication system for personal internet banking

Monday 12 October 2009 09:17 CET | News

Financial services provider National Australia Bank (NAB) is currently considering the implementation of a three-factor authentication system for its online banking customers, online news portal reports.

The bank – which reports securing 75 percent of its current transactions using one-time passwords (OTP) and two-factor authentication technology – is planning to add voice authentication as a third authentication factor for online transactions. NAB has been testing the voice authentication technology and voiceprints in its call centres in order to identify callers and prevent identity theft and online banking fraud.

The bank thus considers adding voiceprints to its existing mandatory SMS-based two-factor authentication system for personal internet banking, which has been active since 2005.

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Keywords: National Australia Bank, online banking, personal internet banking, two-factor authentication, voiceprints
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech